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copper prices driving collective earning growth
2026-05-18
Overseas Copper Prices Surge, Driving Collective Earnings Growth in Copper Sector in Q1
Source: Jiemian News
On May 13, COMEX copper futures continued to rally, hitting an intraday high of USD 6.69 per pound, surpassing the January 2026 historical peak and setting a new record. Shanghai copper main futures also rose, closing up 1.67% at RMB 108,500 per ton on May 13, with a cumulative gain of 13.55% since April.
On the spot market, data from China Iron and Steel Network showed that electrolytic copper in Shanghai was quoted at RMB 108,500 per ton on May 13, up 1.68%.
On the news front, the global copper market’s supply-demand imbalance has worsened. In emerging sectors, cloud computing, big data and artificial intelligence are driving large-scale data center construction, boosting copper demand and expected to deliver strong incremental growth.
According to a Morgan Stanley report, global copper consumption in data centers is projected to reach 740,000 tons (about 2.1% of total demand) in 2026 and 1 million tons in 2027.
As calculated by China Securities Times · DataBao, there are 16 A-share listed companies specializing in copper. In Q1 2026, the copper sector posted collective earnings growth, with total operating revenue of RMB 559.033 billion (up 33.01% YoY) and net profit attributable to parent companies of RMB 36.588 billion (up 81.41% YoY), reflecting a substantial improvement in profitability.
Source: Jiemian News
On May 13, COMEX copper futures continued to rally, hitting an intraday high of USD 6.69 per pound, surpassing the January 2026 historical peak and setting a new record. Shanghai copper main futures also rose, closing up 1.67% at RMB 108,500 per ton on May 13, with a cumulative gain of 13.55% since April.
On the spot market, data from China Iron and Steel Network showed that electrolytic copper in Shanghai was quoted at RMB 108,500 per ton on May 13, up 1.68%.
On the news front, the global copper market’s supply-demand imbalance has worsened. In emerging sectors, cloud computing, big data and artificial intelligence are driving large-scale data center construction, boosting copper demand and expected to deliver strong incremental growth.
According to a Morgan Stanley report, global copper consumption in data centers is projected to reach 740,000 tons (about 2.1% of total demand) in 2026 and 1 million tons in 2027.
As calculated by China Securities Times · DataBao, there are 16 A-share listed companies specializing in copper. In Q1 2026, the copper sector posted collective earnings growth, with total operating revenue of RMB 559.033 billion (up 33.01% YoY) and net profit attributable to parent companies of RMB 36.588 billion (up 81.41% YoY), reflecting a substantial improvement in profitability.
